NFT Twitter Queen and Influencer Artchick shared her New Year’s resolution to her almost 135 ooo followers. What started out as an NFT and crypto advice ended up being a lighthearted take on investing in NFTs.
She tweeted that NFTs are very cyclical. So ideally, you should not be buying in bull markets or be selling in bear markets. However, she pulled back and encouraged her followers to do what makes them happy. Apparently, her New Year’s resolution is to be less preachy!
NFTs are very cyclical, ideally you're not buying in bull markets or selling in bear markets, but my new year's resolution is to be less preachy so do whatever makes you happy ❤
— artchick.eth 🔥👠 (@digitalartchick) January 1, 2022
Can Artchick Stick to Her New Year’s Resolution?
She recently shared a marketing guide for NFT projects via her Twitter account. It included insights on why many NFT projects fail and the impact of influencers on NFTs. It was a massive hit to the NFT community so Artchick might find it hard to stick to her New Year’s resolution because her followers like it when she’s preaching.
Artchick is well known for promoting women creators, spotlighting an underrepresented group. She’s also very active in terms of engaging her followers, so as usual, her tweet inspired some playful banters. Global E-Commerce Specialist @vlozano_eth joked, “You are telling me I shouldn’t have spent all my money today?”
NFT Collector @WoWcrypto also chimed in with a slightly different opinion. He tweeted back, “when we just buy what we like, it don’t even matter if it’s bull or bear ^ that’s what’s great about them.”
Artchick’s choice of words reveals that she’s very much attuned to the crypto market. In crypto language, cyclical basically translates to bear and bull market or crypto winter and DeFi summer.
NFTs: Investment or Collection?
Artchick’s tweet highlights the speculative nature of NFTs. This is understandable given that some NFTs are selling for thousands and millions of dollars. In fact, some NFTs are appreciating in value at a dizzying pace. For example, Mega Mutant Serum #69 sold for an unbelievable 1542 ETH or $5,859,000! This is unprecedented because Mutant Serum NFTs were airdropped for free to all Bored Ape NFT owners.
On the other hand, NFT Collectors and enthusiasts have shown resiliency despite the crypto market’s crash. For example, last May 2021, the marketwide crash saw Bitcoin lose 30% of its price. It also wiped out more than $1 trillion off the crypto market cap. Despite this, users continued to purchase, trade and sell NFTs.
Despite being speculative assets, NFTS are proving to be bullet-proof against market crashes. This is because NFTs have utility not affected by speculation. Yes, there are NFT holders looking to make a margin from trading their NFTs. However, most holders are collectors and acquire NFTs with the intention of keeping them. This is particularly true for 1:1 Collectibles.
In the Crypto world, it is either a bear market or a bull market. However, it seems like the NFT Trading volume is not dependent on a financial cycle. The volume will continue to rise as long as there are interesting NFT projects!
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
